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Effective June 5, 1996, MMIC merged with Medical Liability Mutual Insurance Company of Nebraska (MLM), a physician-owned professional liability insurance company providing insurance coverage to Nebraska physicians. As provided for in the agreement and plan of merger, MLM was merged into MMIC. The merger was accounted f...
76
10K
3457
1,668
To determine the reasonableness of the prior assumptions used and their impact on previously projected account values and the related EGPs, we evaluate, on a quarterly basis, our previously projected EGPs. Our process to assess the reasonableness of our EGPs involves the use of internally developed models, together wit...
82
10K
3310
498
Berkshire’s primary insurance group consists of a wide variety of smaller insurance businesses that principally write liability coverages for commercial accounts. These businesses include: National Indemnity Company’s primary group operation (“NICO Primary Group”), a writer of motor vehicle and general liability covera...
145
10K
BeazleyPLC-AR_2015
2,077
Notes to the financial statements continued 24 Insurance liabilities and reinsurance assets continued Analysis of movements in loss development tables We have updated our loss development tables to show the ultimate loss ratios as at 31 December 2015 for each underwriting year.
42
annual_report
5022
1,353
During 2014, the Company adopted the Society of Actuaries 2014 Mortality Tables Report (RP-2014) and Mortality Improvement Scale (MP-2014), which adjusted the mortality assumptions used to measure retirement plan obligations. The updated mortality assumptions reflect increasing life expectancies in the United States, r...
89
10K
NatwestGroupPLC-AR_2008
2,786
Cash paid for claims settled in the year (3,876) 94 (3,782) Increase/(decrease) in liabilities – arising from current year claims 4,643 (49) 4,594 – arising from prior year claims (573) (20) (593)
32
annual_report
165
294
First Year Commissions. First year commissions on accident and health business increased 7.7% to $17,694,410, compared to $16,433,432 in 1993. The ratio of first year accident and health commissions to first year accident and health premiums was 65.6% in 1994 compared to 63.6% in 1993. This increase is a result of a de...
71
10K
BaloiseHoldingLtd-AR_2007
598
Th e ultimate decision on risk tolerance and business objectives, risk management strategy and standards lies with the Board of Directors of Bâloise-Holding.
23
annual_report
2785
82
The following table summarizes premiums and contract charges by distribution channel.
11
10K
gb_prudential-AR_2011
845
Operating holding company* cash flow after dividend 167 260 Issue of hybrid debt, net of costs 340 – Repayment of subordinated debt (333) – Costs of terminated AIA transaction – (377) Bank loan reorganisation – 120 Other cash payments (205) (276)
41
annual_report
INGGroepNV-AR_2016
1,007
Technology In 2016, we started developing TouchPoint Architecture (TPA), our own modular architecture that will enable our strategy. With TPA we can build generic components that can be used across businesses and countries to create a consistent customer experience. This unlocks our global scalability, speeds up innova...
70
annual_report
PhoenixGroupHoldingsPLC-AR_2015
483
Finance costs exclude the costs pertaining to the PLL subordinated debt, which are included in the life division’s result.
19
annual_report
PowszechnyZakladUbezpieczenSA-AR_2010
957
On 5 January 2010 Tomasz Przesławski i Alfred Bieć were dismissed from the Supervisory Board of
16
annual_report
INGGroepNV-AR_2018
4,920
Investment grade rating classes (+13.1%), while the concentration in Non-Investment and
11
annual_report
1093
716
The Company's medical quota share and excess reinsurance agreements with Swiss Re were terminated effective December 31, 1997. Swiss Re's obligation to assume its proportionate share of medical paid losses incurred prior to January 1, 1998 remains in effect. The amount of reinsurance recoverable from Swiss Reis current...
85
10K
SwissReAG-AR_2014
3,820
process − a due diligence tool for assessing individual business transactions; ̤ Company exclusions; ̤ Country exclusions beyond mere compliance with international trade controls.
24
annual_report
3878
3,417
AIG minimizes the credit risk that counterparties to transactions might be unable to fulfill their contractual obligations by monitoring customer credit exposure and collateral value and generally requiring additional collateral to be deposited with AIG when necessary.
37
10K
NatixisSA-AR_2002
1,242
The Natexis Banques Populaires company financial statements for the year ended December 31, 2002 report a net income of EUR206,037,266.02.
20
annual_report
NatixisSA-AR_2016
3,415
Concentration risk is rounded out with an analysis, based on stress test methodologies (migration of ratings according to macroeconomic scenarios).
20
annual_report
4244
865
In January 2010, the FASB issued authoritative guidance that requires new disclosures related to fair value measurements and clarifies existing disclosure requirements about the level of disaggregation, inputs and valuation techniques. Specifically, reporting entities now must disclose separately the amounts of signifi...
200
10K
2576
2,537
The greater underwriting loss was primarily due to greater loss severity, an increase in the provision for insured events in prior years and higher catastrophe losses. The 2003 provision for insured events in prior years was $119.1 million of adverse development compared to $4.6 million of favorable development in 2002...
50
10K
5370
1,396
Payments of dividends by our insurance subsidiaries are restricted by insurance statutes and regulations. Without prior regulatory approval, our principal insurance subsidiaries may declare up to approximately $16 billion as ordinary dividends during 2018.
34
10K
5057
10,529
The Company is authorized to repurchase up to an aggregate amount of $25.0 million (not including fees and expenses) of the Company’s outstanding shares of common stock. Under the stock repurchase program, purchases may be made from time to time in the open market, in accelerated stock buyback arrangements, in privatel...
99
10K
AvivaPLC-AR_2012
0
Towards a stronger Aviva Aviva plc Annual report and accounts 2012
11
annual_report
ScorSE-AR_2018
2,782
Investment funds and real estate entities are fully consolidated or recorded using the equity method in accordance with the aforementioned principles. Non-controlling interests in fully consolidated investment funds are presented in “Other liabilities” as the third-party holders have an unconditional right to sell thei...
78
annual_report
1444
419
Health insurance premium revenue increased 13.9% to $985.3 million from $865.2 million in 1998. The increase in premium revenue reflected both internal growth and business acquired from other insurance carriers. Premium revenue related to CNA acquired business for the year ended December 31, 1999 totaled $83.4 million....
102
10K
4356
1,269
In making an assessment of the value of its goodwill, the Company uses both market based and non-market based valuations. The fair value of the reporting units is determined based on the earnings multiple, present value of estimated cash flows and present value of future profits methods. Significant changes in the data...
107
10K
AegonNV-AR_2007
4,545
Vereniging AEGON has an Executive Committee consisting of seven members, five of whom, including the chairman and the vice-chairman, are not nor have ever been, related to AEGON. The other two members are also members of the Executive Board of AEGON N.V.
42
annual_report
ScorSE-AR_2011
3,205
Other intangible assets with finite useful lives at 31 December 2011 were EUR 82 million compared with EUR 66 million at 31 December 2010. The largest component of this balance are the intangibles with finite lives generated from the joint venture agreement MDU (Medical Defense Union), which totaled EUR 23 million, acq...
82
annual_report
1996
1,679
In our opinion, the consolidated financial statements listed in the accompanying index present fairly, in all material respects, the financial position of Prudential Financial, Inc. and its subsidiaries at December 31, 2002 and 2001, and the results of their operations and their cash flows for each of the three years i...
233
10K
ScorSE-AR_2010
2,311
For defined contribution plans the employer pays fixed contributions into a separate entity, with no legal or constructive obligation to pay further contributions. As a result, only contributions paid or due for the financial year are charged to the Group’s income statement as administrative expenses.
45
annual_report
DirectLineInsuranceGroupPLC-AR_2018
452
In the normal course of events the Board will consider whether or not it is appropriate to distribute any surplus capital to shareholders once a year, alongside the full year results.
31
annual_report
gb_lloyds_banking_grp-AR_2003
139
During 2003, the Lloyds TSB Group disposed of a number of its overseas operations, as part of the process of managing its portfolio of businesses to focus on its core markets. The sale of the Lloyds TSB Group’s French fund management and private banking businesses completed on 30 June 2003; the sale of The National Ban...
136
annual_report
StandardLifeAberdeenPLC-AR_2012
1,304
Basic earnings per share amounts are calculated by dividing profit for the year attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year.
29
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2015
2,669
Ceded share Acquisition costs, profit commission and reinsurance commission paid 7 5 3 3 38 37 Change in deferred acquisition costs and contingent commissions –1 1 0 0 –2 –2
30
annual_report
NatwestGroupPLC-AR_2013
6,072
Potential future exposure - is a measure of counterparty risk/credit risk. It is calculated by evaluating existing trades done against the possible market prices in future during the lifetime of the transactions.
32
annual_report
5674
703
On August 17, 2018, the SEC adopted amendments to eliminate, integrate, update or modify certain of its disclosure requirements. The amendments which are focused on disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded, are intended to facilitate the disclosure of informa...
104
10K
ScorSE-AR_2018
180
01 SCOR GROUP Information about the SCOR Group 1.2.4. RATINGS INFORMATION
11
annual_report
BaloiseHoldingLtd-AR_2006
2,554
Notes to the consolidated balance sheet 40 7. Property, plant and equipment 40 8. Intangible assets 41 9. Investments in associates 42 10. Investment properties 43 11. Financial assets 43 12. Mortgages and loans 44 13. Derivative fi nancial instruments 45 14. Receivables from fi nancial contracts 46 15. Reinsurance ass...
147
annual_report
3965
1,464
The items included in comprehensive income (loss), other than net income (loss), are unrealized gains and losses on available-for-sale securities (net of deferred acquisition costs), foreign exchange adjustments and pension liability adjustments. The details on the unrealized gains and losses included in comprehensive ...
56
10K
4905
1,749
The property and casualty insurance business is driven by premium growth, the combined ratio, and investment returns. The property and casualty insurance industry is cyclical, with periods of rising premium rates and shortages of underwriting capacity followed by periods of substantial price competition and excess capa...
68
10K
4837
971
Amortization of DAC. During the year ended December 31, 2013, DAC amortization decreased primarily related to estimate adjustments for student life insurance products recognized in 2012, which increased DAC amortization for that year. These adjustments did not repeat in 2013.
40
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2007
1,613
In life reinsurance, premium income is set to decline somewhat in 2008, since we are reducing several large-volume reinsurance treaties as planned. For the coming years, however, we anticipate that fundamental growth impulses will derive from the restructuring of European insurance supervision (Solvency II) and the con...
84
annual_report
NatixisSA-AR_2016
6,507
Of which €475 million in provisions at December 31, 2016 in respect of Madoff net outstandings.(a)
16
annual_report
3600
899
We have contractual commitments to invest up to $147.9 million related to our limited partnership investments at December 31, 2007. These commitments will be funded as required by the partnerships’ agreements which principally expire in 2012. At December 31, 2007, the total remaining commitment to fund limited partners...
92
10K
PowszechnyZakladUbezpieczenSA-AR_2015
29
We should put all our efforts into offering our clients the best and most innovative insurance products that will protect their future, health, and property.
25
annual_report
GjensidigeForsikringASA-AR_2015
680
Baltics The most important distribution channels in the Baltic states are direct sales and sales through insurance agents and brokers. Sales via the internet are increasing. Gjensidige aims to develop cost-efficient, multi-channel distribution models also in the Baltic market, with the emphasis on web-based solutions a...
69
annual_report
3655
1,165
The cumulative effect of adopting the equity method with respect to the investments in Moody’s and BNSF was recorded in the financial statements as of December 31, 2008 and prior years’ financial statements have not been restated. As a result of adopting the equity method, Berkshire’s shareholders’ equity increased by ...
72
10K
3288
841
•anticipate that these initiatives will lead to annualized cost-savings of approximately $50-$70 million in 2008, $175-$200 million in 2009, and $240 million of annualized savings by 2010. However, there can be no assurances that we will achieve the targeted savings.
40
10K
fr_axa-AR_2016
3,449
Executive Offi cer was €950,000 and the variable component of his compensation was €2,350,000 in 2016 i.e. 247% of his fi xed annual compensation.
24
annual_report
gb_lloyds_banking_grp-AR_2007
2,188
Non-life insurance (see (ii) below): * Reinsurance balances receivable are reported within other assets (note 26).
16
annual_report
ASRNederlandNV-AR_2019
1,143
Carbon footprint (%) for all asset classes1 Carbon footprint: 95% of investment and mortgages portfolio (for own account) measured in 2021
21
annual_report
2464
1,707
Each of these actions purport to be a shareholder’s derivative action brought for the benefit of nominal defendant UnumProvident Corporation against certain current and past members of its Board of Directors and certain executive officers seeking to remedy alleged breaches of fiduciary duties and other violations of cl...
146
10K
NatwestGroupPLC-AR_2006
1,802
Experience losses on plan liabilities (4) (41) (624) (19) (68) (631) Experience gains on plan assets 552 1,556 392 587 1,660 408 Actual return on pension schemes assets 1,574 2,486 1,230 1,660 2,677 1,328
34
annual_report
CNPAssurancesSA-AR_2005
175
These simulations model the exact characteristics of liabilities and the related assets, using policyholder behaviour assumptions. Simulations are performed for different financial scenarios.
23
annual_report
2573
1,286
As part of our investment in a limited partnership, whose purpose is to invest funds in the private equity markets, we are contractually obligated to contribute an additional $5.7 million. As of December 31, 2004, we had contributed $4.3 million to the partnership. The Company contributed approximately $2.7 million in ...
77
10K
2375
4,454
We review all holdings with an unrealized loss of over $250, or more than 20% below cost.
17
10K
2464
1,216
As of December 31, 2004, the Company elected to set the discount rate assumption at the measurement date for each of its retirement related benefit plans to reflect the yield of a portfolio of high quality fixed income debt instruments matched against the timing and amounts of projected future benefits. The Company ele...
93
10K
2310
416
Repurchase Agreements and Securities Lending - The Company enters into repurchase agreements with third-party broker/dealers in which it sells securities and agrees to repurchase substantially similar securities at a specified date and price. Such agreements are accounted for as collateralized borrowings. Interest expe...
78
10K
3961
1,899
White Mountains’ sensitivities for market implied volatilities vary by term. For equity implied volatilities, White Mountains changes implied volatilities by 15%, 13%, 11%, 9%, 7%, 7% and 7% for each of the terms to maturity for years one through six, respectively. For foreign currency implied volatilities, White Mount...
73
10K
2770
533
We contract with hospitals, physicians and other independent providers of health care under capitated or discounted fee-for-service arrangements, including hospital per diems, to provide medical care services to members. Capitated providers are at risk for a portion of the cost of medical care services provided to our ...
140
10K
StandardLifeAberdeenPLC-AR_2016
1,031
The Group also encourages share ownership in the Company in the UK and Ireland through the Standard Life Sharesave Plan which was launched in August 2011. In September 2016, we launched a sixth invitation to UK employees and at the same time made a fifth invitation to employees in Ireland. On 1 November 2016, the 2013 ...
133
annual_report
INGGroepNV-AR_2015
5,268
Executive level The ING Bank Finance and Risk Committee (BF&RC) is a platform for the CRO and the Chief Financial Officer (CFO), along with their respective direct reports, to coordinate issues that relate to both the finance and risk domains. On reporting level, BF&RC has the responsibility to co-ordinate, on a high l...
67
annual_report
NatwestGroupPLC-AR_2010
2,552
The RBS Group Pension Fund (“Main scheme”) is the largest of the schemes and the main source of pension risk. The Main scheme operates under a trust deed under which the corporate trustee, RBS Pension Trustees Limited, is a wholly owned subsidiary of The Royal Bank of Scotland plc and the trustee board comprises six di...
66
annual_report
422
611
investment income) $14,800 $15,182 $13,841 Administrative and underwriting payments (included in operating expenses) 304,599 301,529 269,020
16
10K
5616
1,963
ASU No. 2016-13 - Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this Update introduce a new current expected credit loss (“CECL”) model for certain financial assets, including mortgage loans and reinsurance receivables. The new model will not apply to debt...
234
10K
RSAInsuranceGroupPLC-AR_2019
180
RSA is a people-centred business, with an ambition to perform at best-in-class levels. The Board recognises the key role of the workforce in delivering the Group’s strategy and values time spent with them.
33
annual_report
ASRNederlandNV-AR_2008
1,040
8 Share premium reserve The following movements occurred in the share premium reserve: Position as at 1 January 2007 962 Position as at 31 December 2007 962 Position as at 31 December 2008 962 9 Reserves The table below shows movements in reserves: Net result Statutory Unrealised Other Total attributable reserves gains...
95
annual_report
4828
778
In July 2013, the Company completed a series of transactions that enabled it to begin offering financial guaranty insurance through MAC, an insurer that will only underwrite U.S. public finance risk, focusing on investment grade obligations in select sectors of the municipal market. The Company increased the capitaliza...
171
10K
5499
1,068
The succeeding interim and annual periods will disclose the operating segments under the new basis with prior periods restated to reflect the change.
23
10K
4689
1,970
The Company maintains a share repurchase program that was authorized by its Board of Directors. The decision to repurchase shares depends on market conditions and alternative uses of capital. The Company has, and may continue from time to time, to repurchase shares on the open market through a Rule 10b5-1 plan that per...
81
10K
AegonNV-AR_2015
4,966
Holders of unit-linked policies filed claims in civil court against Aegon in Poland over the fees payable by a customer at the time of the initial purchase for certain products or retrospectively due on surrender for other products. While fees were explicitly disclosed to policyholders in policy documentation at the ti...
230
annual_report
SwissReAG-AR_2017
2,811
In January 2017, the FASB issued ASU 2017-01, “Clarifying the Definition of a Business”, an update to topic 805, “Business Combinations”. The amendments in this update clarify the definition of a business in order to assist entities with evaluating whether transactions should be accounted for as acquisitions (or dispos...
119
annual_report
5756
930
The gross unrealized gains and losses on, and the amortized cost and fair value of, those investments classified as available-for-sale at December 31, 2019 are summarized as follows:
28
10K
5958
3,701
For additional information related to indemnification recoverables, see Item 1 - Regulation, Indemnification Programs and Note 10 of the consolidated financial statements.
22
10K
NatixisSA-AR_2014
8,393
Mirova has an 11-member SRI research team that offers investors longterm value-creating solutions, not only from a fi nancial standpoint but also from an environmental, economic or social perspective. It takes a global approach to responsible investment: equities, fi xed income, general and renewable energy infrastruct...
76
annual_report
4381
894
Short-tail classes consist principally of automobile physical damage, homeowners property, commercial property and marine business. The Chaucer business, while having
20
10K
2006
552
In June 1998, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 133, Accounting for Derivative Instruments and Hedging Activities. SFAS No. 133 requires that an entity recognize all derivatives as either assets or liabilities in the statement of financial ...
134
10K
ScorSE-AR_2015
2,531
For defined contribution plans the employer pays fixed contributions into a separate entity, with no legal or constructive obligation to pay further contributions. As a result, only contributions paid or due for the financial year are charged to the Group’s statement of income as administrative expenses. The payments m...
222
annual_report
gb_lloyds_banking_grp-AR_2011
678
We developed a free, step-by-step guide, to help businesses understand the various ways in which they can prepare for the Games and seize the business opportunities.
26
annual_report
4897
1,559
U.S. GAAP requires disclosure of the fair value of certain financial instruments including those that are not carried at fair value. The carrying amounts for cash and cash equivalents, other investments, receivables, accrued investment income, accounts payable, cash collateral and payables for security transactions app...
73
10K
ScorSE-AR_2020
919
31 Female French 225 0 No April 26, 2022 1 year • Member of the Corporate Social and Societal Responsibility and Environmental Sustainability Committee
24
annual_report
4741
1,230
Book value per common share represents total shareholders’ equity divided by the number of common shares outstanding. Management uses growth in book value per common share as an indicator of the value provided to common shareholders and believes that, over time, book value per common share is a key driver of share pric...
78
10K
4355
2,004
MGA Business. Net written premiums for MGA Business increased by 4.9% to $269.2 million in the year ended December 31, 2010 from $256.7 million in the year ended December 31, 2009. The increase compared to the prior year period was primarily due to an $8.5 million increase in net written premiums from our collector car...
86
10K
TrygAS-AR_2004
1,773
- Renholdningsselskabet af 1898 - Råstof og Genanvendelse Selskabet af 1990 A/S
12
annual_report
fr_axa-AR_2006
222
In the following pages of the document, in the absence of precision, the notion of independence will be interpreted on the basis of the recommendations contained in the Bouton Report.
30
annual_report
3065
1,119
Counterparties to the derivative instruments expose the Company to credit risk in the event of non-performance. The Company believes this risk is low, given the diversification among various highly rated counterparties. The credit risk exposure is represented by the fair value of the derivative instruments.
45
10K
4415
1,503
The “net loss and loss expense ratio” is derived by dividing net loss and loss adjustment expenses by the sum of net premiums earned and other insurance revenue. The “acquisition cost ratio” is derived by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue. T...
72
10K
SwissReAG-AR_1991
209
The Board of Directors wishes to thank the retiring Chairman for his service to the company and extends to him best wishes for a well-earned retirement.
26
annual_report
fr_axa-AR_2011
11,823
Green Rating audits, performed on a systematic basis as part of its acquisition due diligence process and focusing on six tangible indicators (energy, water, waste, well-being, transports and carbon). AXA Real Estate has also developed a proprietary
37
annual_report
fr_axa-AR_2009
10,668
Management Board in order to issue ordinary shares or other types of securities with a claim to ordinary shares of the
21
annual_report
fr_axa-AR_2006
2,068
Belgium. The Property & Casualty market 2006 growth rate was fuelled by the introduction of the natural peril coverage. The motor market which represents 34% of total Property & Casualty should grow by 1.3% while household premiums should rise by 5.9% (natural peril). The Workers’ compensation market should confirm its...
91
annual_report
4980
20,321
The Phoenix Companies, Inc. serves as the holding company for our insurance subsidiaries and does not have any significant operations of its own. As of December 31, 2014 and 2013, liquidity (cash, short-term investments, available-for-sale debt securities and other near-cash assets) totaled $78.3 million and $181.5 mil...
63
10K
3878
4,493
In May 2008, AIG sold 196,710,525 shares of common stock at a price per share of $38 for gross proceeds of $7.47 billion and 78,400,000 equity units (the Equity Units) at a price per unit of $75 for gross proceeds of $5.88 billion. The Equity Units, the key terms of which are summarized below, are recorded as long-term...
64
10K
2992
676
Office closure. During 2002, we stopped writing business in our Missouri and New England regions and closed our offices there. We are still responsible for managing and paying for all accidents related to policies that we underwrote while we operated there. We also experienced significant losses and adverse development...
102
10K
5421
1,342
Scholes options pricing model. Compensation expenses are recognized over the requisite service period, which is generally the three-year vesting period of the options (vesting in one-third increments per year).
29
10K
3924
741
During the year ended December 31, 1999, the Company adopted the Unico American Corporation Money Purchase Plan. This plan covers the present executive officers of the Company. Pursuant to the terms of this plan, the Company annually contributes to the account of each participant an amount equal to a percentage of the ...
130
10K
4523
4,142
•the sustainability of recent operating profitability of our subsidiaries in various tax jurisdictions;
13
10K
StorebrandASA-AR_2010
1,071
Master’s degree in economics and business administration, Norwegian School of Management (BI), MBA, Thunderbird (AGSIM), USA.
16
annual_report
NatixisSA-AR_2004
640
n Treasury stock: treasury shares are purchased for four purposes: i) to regulate the market price by trading against market trends, ii) to take advantage of market opportunities, iii) to pay for acquisitions and iv) to allot to Group employees under stock option plans or employee share issues. The number of treasury s...
72
annual_report